WTI Light Sweet Crude Oil, 6/9/23
For Friday, 72.37 can contain buying later next week, below which 68.34 remains a 3 - 5 day target able to contain selling over the same time horizon.
A daily settlement below 68.34 indicates 62.14 over the next 2 - 3 weeks, where the market can bottom out through summer activity.
Upside Friday, closing above 72.37 indicates 77.56 within 3 - 5 days, able to contain weekly buying pressures when tested and the point to settle above for then indicating 82.18 long-term resistance within 2 - 3 weeks.
A daily settlement below 68.34 indicates 62.14 over the next 2 - 3 weeks, where the market can bottom out through summer activity.
Upside Friday, closing above 72.37 indicates 77.56 within 3 - 5 days, able to contain weekly buying pressures when tested and the point to settle above for then indicating 82.18 long-term resistance within 2 - 3 weeks.
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